Morgan Stanley
The investment bank emerged from the tumultuous third quarter in better shape than most of its Wall Street rivals.
While other banks reported declines in trading and advisory revenue, Morgan Stanley increased its income from advising companies on deals and trading for its clients.
Morgan Stanley said Wednesday it earned $2.2 billion in the period, which also included a big accounting gain.
Morgan Stanley’s net income applicable to common shareholders was $1.15 a share on $9.9 billion in revenue. Analysts expected earnings of 30 cents a share, according to FactSet.
In the same period a year ago, the bank had a loss of $91 million, or 7 cents a share, on revenue of $6.8 billion.
AMR
The parent of American Airlines posted a $162 million loss Wednesday and has lost money in 14 of the past 16 quarters.
AMR reported Wednesday that third-quarter revenue rose 9 percent on higher fares, but fuel spending jumped 40 percent, to $2.3 billion, easily topping wages and benefits as the biggest expense.
The company’s loss of 48 cents a share was wider than analysts’ forecast of 43 cents a share, according to FactSet.
Freeport-McMoRan Copper & Gold Inc.
The mining company said Wednesday that its third-quarter profit fell 10.6 percent as it sold less copper and gold and a strike continued at its Indonesian mine.
The company said its net income fell to $1.05 billion, or $1.10 a share, during the quarter that ended Sept. 30, down from $1.18 billion, or $1.24 a share, during the same period last year. Revenue rose slightly to almost $5.2 billion.
Analysts surveyed by FactSet had been expecting earnings of $1.05 a share.
SuperValu Inc.
The supermarket operator returned to a profit in its fiscal second quarter, absent hefty goodwill and impairment charges incurred a year earlier.
SuperValu, which runs Albertsons, Save-A-Lot and other chains, reported net income of $60 million, or 28 cents a share, for the period ended Sept. 10.
That compares with a loss of $1.47 billion, or $6.94 a share, a year ago. Revenue fell 3 percent to $8.43 billion.
American Express
Credit-card holders used their cards more and spent more in the third quarter than a year earlier, the company said Wednesday, crediting those increases for a 13 percent jump in its net income.
For the three months that ended Sept. 30, American Express posted net income of $1.24 billion, or $1.03 a share, compared with $1.09 billion, or 90 cents a share, a year earlier. Its quarterly revenue rose 9 percent to $7.57 billion.
EBay
The online marketplace left investors unimpressed with its predictions for the holiday season even as its namesake site and PayPal online payment service showed healthy growth in the quarter.
For the July-September quarter, eBay said it earned $491 million, or 37 cents a share. That compares with $432 million, or 33 cents a share, a year earlier. Revenue increased 32 percent to $3 billion.
